SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2018
Open to Public
Inspection
Name of the organization
FACULTY ASSOCIATES INCORPORATED
 
Employer identification number

59-3518156
Return Reference Explanation
FORM 990 - ORGANIZATION'S MISSION THE CORPORATION IS ORGANIZED EXCLUSIVELY TO SUPPORT THE SERVICE, TEACHING AND RESEARCH MISSION AND GOALS OF THE UNIVERSITY OF FLORIDA AND ITS J. HILLIS MILLER HEALTH CENTER AND THE COLLEGE OF DENTISTRY, ALL AS DETERMINED BY THE UNIVERSITY OF FLORIDA BOARD OF TRUSTEES, AND IT SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES AND NOT FOR PECUNIARY PROFIT.
FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY MANAGEMENT AND THEN AN ELECTRONIC COPY OF THE 990 WILL BE E-MAILED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS.
FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS, DIRECTORS, AND EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS OF INTERESTS ANNUALLY. POTENTIAL CONFLICTS OF INTERESTS ARE REVIEWED BY THE BOARD BEFORE ANY SIGNIFICANT TRANSACTIONS ARE ENTERED INTO.
FORM 990, PAGE 6, PART VI, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, FINANCIAL STATEMENTS AND TAX RETURNS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART VII REFER TO SCHEDULE J, PART III FOR ADDITIONAL INFORMATION REGARDING THE DEFINED BENEFIT PLAN.
FORM 990, PART X PART X, LINE 2 IN NOVEMBER 2014, THE CORPORATION SIGNED A MEMORANDUM OF UNDERSTANDING (MOU) WITH THE UNIVERSITY OF FLORIDA IN WHICH THE CORPORATION AGREES TO DEPOSIT ITS EXCESS CASH AND INVESTMENTS INTO THE UNIVERSITYS STRATEGIC FUND. THE UNIVERSITY MANAGES AND INVESTS THESE MONIES FOR THE BENEFIT OF THE STRATEGIC FUND. ALL EARNINGS, LOSSES, AND ASSOCIATED INVESTMENT MANAGEMENT FEES ARE RETAINED BY THE UNIVERSITY. THE UNIVERSITY INTENDS TO REPAY THE AMOUNTS DEPOSITED TO THE CORPORATION, THEREFORE, THE CORPORATION RECORDED A DUE FROM THE UNIVERSITYS STRATEGIC FUND OF 1,500,000 AS OF JUNE 30, 2019 AND 2018. ANY WITHDRAWAL OF MONIES UNDER 10 MILLION HAVE SAME DAY ACCESSIBILITY, WHILE WITHDRAWALS OVER 10 MILLION REQUIRE WRITTEN NOTICE OF AT LEAST TWO WORKING DAYS.
FORM 990, PART XI, LINE 9 PROFESSIONAL FEES ON FINANCIAL STATEMENTS ARE SHOWN NET OF 0 BAD DEBTS -2,607,986 PROFESSIONAL FEES ON THE FINANCIAL STATEMENTS ARE SHOWN 0 NET OF BAD DEBT 2,607,986
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2018


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